Well, I have good news and bad news regarding becoming a Maine unclaimed money finder.
The good news is you can charge as much as you want in commission (with one small exception).
The bad news is you need to be a private investigator.
However, even that news is not too bad. You have a couple of options. If you live in Maine, you do not have to search for unclaimed money only in Maine. You can search in any other state.
For example, we’re in New York, but I don’t do any searches in New York State (unless friends or family request it) because New York State does not give the dollar amount on their list.
Another option is to partner with a current private investigator in Maine. You can use their name and information for a share of commissions.
Or, if you really want to search for Maine unclaimed money, you can become a private investigator. The only really difficult part of it is the time it takes.
The qualifications to become a Maine private investigator are:
- You must be at least 18 years of age
- You must be a citizen or resident alien of the United States
- You must be a graduate of an accredited high school or been granted high school equivalency status by the state
- Has demonstrated good moral character and has not been convicted of a crime which is punishable by a maximum term of imprisonment equal to or exceeding one year.
For more information on becoming a private investigator in Maine, check out the Maine Private Investigators Handbook. You can also visit the Maine State Police and find additional information there.
If you are ready to start as a Maine unclaimed money finder, it is a great opportunity.
The Maine unclaimed money finder laws are:
- The unclaimed money must have been held for at least 24 months
- An agreement must be in writing showing the nature of the unclaimed money, must be signed by the owner, and must show the amount before and after the fee is deducted by the Maine unclaimed money finder
- An agreement covered by this section that provides for compensation that is unconscionable is unenforceable except by the owner (don’t charge too much!)
- Fees or compensation under agreements made more than 24 months but less than 36 months after the date the property is paid or delivered to the administrator may not exceed 15%Just a note on that last one, if the unclaimed money is held by Maine for more than 24 months but less than 36 months, the fee you can charge cannot exceed 15%. If it has been held for more than 36 months by the State of Maine, you can charge any fee.
Maine sells an unclaimed money finder list for $75, which is not bad. Find one person on the list owed $1000, charge them 15%, and boom, you have double your $75 back.The list contains: - Items reported at least two years ago worth at least $1000
- Owners name and last known address
- Property ID number
- Year it was reported to the State of Maine
- Cash Value
- Description of the unclaimed money
- Name of the holder (who reported it to the State of Maine)
For more information, please click here.
How do I approach a private investigator service? What are the questions that I would ask?
First off, let them know that you are a finder of unclaimed funds, don’t have a PI license, and would like to partner with a PI firm so you can go after funds in the state that requires you to be a PI. Then, the first question would be if they would be interested in doing that with you. After that, it would just be a matter of working out the details such as how you would split the commissions and what would be required of them. Really, you just want to be able to use their name and correspondence such as their letterhead and email address. This is easy money for them because you would be doing all of the work and just using their name.
I have been told some time ago when I didn’t use a computer but was wondering because I had a security deposit from a rent in Gray maine I never per sued and other things too